Why we Are Into Currency Faking Business - Robbers

Tunde Oyekola, Osogbo - 20.06.2009

A five-member fake currency syndicate smashed on Monday in Osogbo by the Osun State Police Command said that they were in the business of selling fake currency because it was lucrative.

The 24-year-old Saheed Ibiyemi, who said that he spent N25,000 to buy N125,000 fake currency at N200 per N1,000 notes at Oluwole in Lagos, added that he had been operating in Abuja before coming down to Osogbo.

Saheed, who admitted that he had been in the business of buying fake currency for sometime when he could not secure a job, stated that “it is a lucrative business and I have been making a living from it. I buy fake currency from a man who introduced me to the business at Oluwole in Lagos.”

When reminded that Oluwole was no longer existing in that it had been dismantled by the government, Saheed said that “Oluwole is still existing because people still transact business in the place under cover.”

Saheed and Friday Irabor 25, both from Edo State, were apprehended at Aromole Area, Oja - Oba in Osogbo while attempting to spend fake naira notes while the other three members, Friday Irabor 25, Amidu Kashimawo, 24 and Sunday Bright Marcus, 26, were caught at Peter Ajibola Street, Alekuwodo, where they bought a N100 recharge card with N1,000 fake naira note.